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Dodd-Frank Forces Early Call in SEC Probe of Fannie Mae’s Mudd

Last March the U.S. Securities and Exchange Commission told Daniel Mudd, former head of Fannie Mae, that he could face claims for his role in the firm’s collapse. He may be the first chief executive officer to benefit from a rule that regulators sue or drop such cases within six months.

The 180-day deadline set out in last year’s Dodd-Frank regulatory overhaul expires today for Mudd. SEC lawyers can only get an extension if they formally justify it to their bosses.